Salesforce, Inc. (NYSE:CRM) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. grew its stake in Salesforce, Inc. (NYSE:CRM) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,340 shares of the CRM provider’s stock after purchasing an additional 114 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Salesforce were worth $2,512,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Sound Income Strategies LLC boosted its position in Salesforce by 30.6% during the fourth quarter. Sound Income Strategies LLC now owns 564 shares of the CRM provider’s stock worth $148,000 after acquiring an additional 132 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth about $35,000. TruWealth Advisors LLC acquired a new position in Salesforce during the fourth quarter worth about $208,000. JGP Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth about $245,000. Finally, Worth Asset Management LLC acquired a new position in Salesforce during the fourth quarter worth about $2,095,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $250.00 target price on shares of Salesforce in a research note on Friday, July 12th. Sanford C. Bernstein lifted their target price on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Barclays reduced their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. TD Cowen reduced their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Finally, Wells Fargo & Company reduced their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Stock Up 0.1 %

Shares of Salesforce stock traded up $0.29 during trading hours on Friday, hitting $247.64. The company had a trading volume of 4,467,924 shares, compared to its average volume of 6,860,676. The company’s 50-day moving average is $253.86 and its two-hundred day moving average is $275.33. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $239.96 billion, a P/E ratio of 44.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a $0.40 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.65%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. Insiders sold a total of 388,578 shares of company stock worth $104,113,439 in the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.